Unicorn

A 'unicorn' is a privately owned company valued at US$1 billion or more.

The term is also used more narrowly to refer to early stage technology companies with valuations of US$1 billion or more, also known as 'tech unicorns'.

Spotify raises $1bn

"Swedish music streaming company Spotify attracted plaudits from the judges for its approach to managing growth.

During the first half of 2016 [Spotify] closed one of the largest convertibles ever for a tech unicorn, securing a $1bn financing, so support Spotify's growth programme."

The Treasurer magazine, February 2017 p32 - Deals of the Year.

See also

• Convertible bonds
• Private equity
• Venture capital